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Unformatted text preview: ECON 101 Fall 2007 PROBLEM SET 1ANSWER KEY Professor SerranoPadial Due on Tuesday 18th at 9pm in your TA mailbox. Please remember to write down your name, the name of your TA and your discussion section. Staple pages together 1 Graph review 1. Graph the line y = 30 3 x . Is the relationship between x and y positive or negative? What is the slope of the line? Answer: See graph below. The relationship is negative. The slope is 3. 2. Is the above line steeper or flatter than y = 30 2 x ? And than y = 15 3 x ? Answer: It is steeper: the slope is more negative. The have the same slope, that is the same steepness. 3. Graph the curve y = 40 x +1 . Does it have a negative increasing or negative decreasing slope? Is it steeper or flatter than the line y = 30 3 x at x = 1? And at x = 9? Answer: See graph. It has a negative decreasing slope. It is steeper at x = 1 and flatter at x = 9. 4. Find the intersection between y = 30 3 x and y = 5 x . Answer: x = 30 / 8 = 3 . 75, y = 5 3 . 75 = 18 . 75....
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This note was uploaded on 04/14/2009 for the course ECON 101 taught by Professor Hansen during the Fall '07 term at Wisconsin.
 Fall '07
 Hansen
 Microeconomics

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